Demand of Caviar from Restaurants and Specialty Stores Set to Drive Caviar Market Globally

August 2022, Market Research Future has published a Report on the Global Caviar Market

Caviar Market Highlights

Caviar market is expected to reach 0.60 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.63% from 2022 to 2030. 

Increasing demand of caviar from restaurants and specialty stores is supporting the market growth globally. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Caviar Market Research Report- Forecast to 2030 that the Caviar market will demonstrate an exceptional CAGR during the forecast period.

Caviar is mainly obtained from Sturgeon fish caught in the Caspian Sea and it is considered expensive, but after the collapse and vanishing of the Soviet Empire, the stocks came dangerously close to extinction due to uncontrolled fishing of local fishermen just to survive. Now the prices of caviar are even higher and likely to continue increasing in the upcoming years. Russian Beluga caviar is hailed as the most prized caviar compared to other caviar types available in the market. Large caviar farms around the world are found in Italy, Israel, France, the US, and Uruguay.

Vegan caviar is the vegetarian and vegan-friendly alternative which is made from a unique formula of seaweed which is available in huge quantity in oceans. Vegan caviar is becoming popular in health conscious consumers as it is low in calories and cholesterol but it is high in calcium. The production of vegan caviar does not prove to be detrimental for fish stocks and it is also not dependent on the fishing industry. These factors are playing the key role to boost the vegan caviar market.

Latest Industry Updates

Dec 2021: The demand of vegan caviar made from seaweed is increased in North America region especially in developed countries like U.S. and Canada.   

Nov 2021: Polijana is Croatia’s largest freshwater fish company is going to increase its production capacity.  Polijana is famous for production of beluga caviar.

Nov 2021: The Department of Environment sent out an advisory Tuesday alerting people that they cannot import caviar to Cayman without arranging for the appropriate CITES permit. All importers or traders in products affected by the CITES regulations must be registered with the Department of Commerce and Investment when renewing their Trade and Business License.

Nov 2021: Iran caviar exports decrease, output expected to rise. More than 557 kilograms of caviar worth over $1.37 million were exported from Iran during the seven months to Oct. 22, registering a 9% and 6.6% decline in weight and value respectively compared with the similar period of last year, figures released by the Islamic Republic of Iran Customs Administration showed. The declining sturgeon population and the ban on their fishing have also caused a downtrend in Iran’s caviar exports.

Global Caviar Market - Competitive Analysis

Majority of the players in the caviar market are concentrated in the Europe region in terms of supply, however caviar is in more demand in the Asia and North America region. To get edge over the competitors, the companies are focusing onto increasing the production capacity of high quality caviar. Introduction of vegan caviar by few companies will change the market dynamics in the upcoming years.

The key players profiled in the caviar market are as The Caviar Co. (U.S.), DELICATESSEN SNAILEX s.r.o. (Czech Republic), AMANGUL TULBERGEN (Istanbul), Sepehr Dad Caviar Gmbh (Germany), CAVIAR BLANC (Portugal), LABEYRIE (France), and VODNY MIR (Ukraine) among many others.

Global Caviar Market – Segments

The global caviar market has been divided into type, delivery form, end use, distribution channel and region.

On The Basis Of Type: Vegan (Seaweed) and Non-Vegan (Beluga, Osetra, Sevruga, Kaluga, Salmon, Sushi and Others)

On The Basis Of Form: Fresh, Preserved, Frozen, Dried, Cooked and Others

On The Basis Of End Use: Restaurant, Household and Others

On The Basis Of Distribution Channel: Specialty Shops, Wine Stores, Supermarket, E-commerce and others

 On The Basis Of Region: North America, Europe, Asia Pacific and ROW.

Global Caviar Market - Regional Analysis

Europe region has the major market share followed by APAC and North America. Russia and Iran together dominated the caviar export market mainly due to rise in harvesting the eggs from beluga sturgeon in the Caspian Sea. But in recent time overfishing of beluga landed them on the endangered species list, and as supply decreased, other nations, including Japan, Israel, and China, have started to fill the gap and emerged as key caviar exporters. Improving economic condition of consumer and expansion of distribution channel has boosted the market growth in Asia pacific region.  Availability of varieties in Europe is the creating new opportunities for caviar suppliers in Europe. Top exporters of caviar includes China, U.S., Italy, France, and Germany.